Ten Lifestyle Group PLC Ten Wins Contract with Westpac Banking Corporation (8814T)

TIDMTENG

RNS Number : 8814T

Ten Lifestyle Group PLC

23 July 2020

Ten Lifestyle Group plc

("Ten" or the "Company")

Ten Wins Contract with Westpac Banking Corporation

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled concierge platform, is pleased to announce it has signed a multiple year contract with Westpac Banking Corporation ("Westpac").

Ten will provide digitally enabled travel and lifestyle concierge services to Westpac's premium credit card customers based in Australia, as part of their credit card benefits. Eligible customers will have access to Ten's digital platform, as well as servicing of phone requests primarily by Ten's Melbourne office.

The service is expected to launch in the second half of 2020 and Ten's Board of directors believe the contract will grow to become a Medium(1) contract within 12 months of launch.

(1) Ten categorises its corporate client contracts based on the annualised value paid, or expected to be paid, by the corporate client for the provision of concierge and related services by Ten as: Small contracts (below GBP0.25m); Medium contracts (between GBP0.25m and GBP2m); Large contracts (over GBP2m); and Extra Large contracts (over GBP5m). This does not include the revenue generated from suppliers through the provision of concierge services.

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For further information, please visit https://www.tengroup.com/ or contact:

 
 Ten Lifestyle Group Plc 
  Alex Cheatle, Chief Executive Officer           +44 (0)20 7850 
  Alan Donald, Chief Financial Officer             2796 
 
   Peel Hunt LLP, Nominated Advisor and Broker 
   Edward Knight 
   George Sellar                                  +44 (0) 20 7418 
   Nick Prowting                                   8900

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc is a leading, global concierge platform, helping discerning individuals to discover, organise, and enjoy dining, live entertainment, travel and premium retail (and other relevant services) with better results and more quickly than they could themselves.

Underpinned by industry-first technology, Ten provides its trusted travel and lifestyle service to its more than 2 million members, 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the business listed on the AIM market of the London Stock Exchange in November 2017 (AIM: TENG). Ten Lifestyle Group's objective is to become the most trusted service platform in the world.

For further information about Ten Lifestyle Group Plc, please go to: https://www.tengroup.com/ .

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July 23, 2020 07:00 ET (11:00 GMT)

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